SAN DIEGO, April 25, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in California on behalf of certain purchasers of shares of NantKwest Inc (NASDAQ:NK) over alleged Securities Laws Violations by NantKwest Inc.
Investors who purchased shares of NantKwest Inc (NASDAQ:NK) have certain options and for certain investors are short and strict deadlines running. Deadline: May 23, 2016. (NASDAQ:NK) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that the defendants issued certain allegedly false and misleading statements to investors and/or allegedly failed to disclose that NantKwest’s financial statements contained errors related to stock-based awards to NantKwest’s Chief Executive Officer and Executive Chairman defendant Patrick Soon-Shiong, that NantKwest’s financial statements contained errors related to build-to-suit lease accounting related to one of NantKwest’s research and development and good manufacturing practices facilities, that NantKwest lacked effective internal financial controls, and that as a result NantKwest’s public statements were materially false and misleading at all relevant times.
On March 11, 2016, NantKwest announced that the Audit Committee of the Board of Directors of NantKwest Inc concluded, after discussion with management and Mayer Hoffman McCann P.C., NantKwest’s independent registered public accounting firm, that the interim financial statements contained in NantKwest’s quarterly reports on Form 10-Q for the quarters ended June 30, 2015 and September 30, 2015 should no longer be relied upon due to the combined effect of financial statement errors primarily attributable to certain stock-based awards to NantKwest’s Chief Executive Officer and Executive Chairman and build-to-suit lease accounting related to one of its research and development and Good Manufacturing Practices facilities.
Those who purchased NantKwest Inc (NASDAQ:NK) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.